Daily Debrief: What Happened Today (May 22)

Stories you might have missed

Ban on land sales, new launches for developers that deliver ‘defect-ridden’ projects

[SINGAPORE] Developers that deliver “defect-ridden” housing projects or commit serious safety breaches may be barred from taking part in future residential land tenders or selling new homes for up to five years.

Teo Siong Seng to take leave of absence from SBF, economic task force to deal with US allegations

[SINGAPORE] Teo Siong Seng, the shipping veteran at the centre of an investigation by the United States Justice Department, will take a leave of absence from his roles at the Singapore Business Federation (SBF), the Singapore Economic Resilience Taskforce (SERT) and trade agency Enterprise Singapore.

Dr Koh Poh Koon resigns from ministerial roles for ‘family reasons’, will stay on as MP

[SINGAPORE] Senior Minister of State Koh Poh Koon has stepped down from public office “due to family reasons”, the Prime Minister’s Office (PMO) said on Friday (May 22).

Earnings miss, downside risks weigh on Singtel shares, but RHB sees ‘re-entry opportunity’

[SINGAPORE] Singtel’s share price volatility offers investors a “re-entry opportunity” into the counter, said RHB analysts on Friday (May 22), even as other brokerages flagged the group’s latest earnings miss.

GIC-backed co-working firm JustCo ends 17.6% below IPO price in lacklustre mainboard debut

[SINGAPORE] Shares of flexible workspace operator JustCo opened below their initial public offering price in a tepid mainboard debut on Friday (May 22).

In 3 GIFs: How the Iran war has changed tanker traffic through Hormuz, Malacca straits

[SINGAPORE] In the early hours of May 13, a Chinese supertanker carefully made its way across the Strait of Hormuz, one of the rare crossings since Iran closed the key waterway on Feb 28.